— Shon Gustin
I’m happy to have helped Shon buy his first home, and I can help make your home purchase easy too. Here are some buyer tips, along with a mortgage calculator and a home wish list worksheet. Call or e-mail me anytime to help you find your next home, or to answer any questions you may have.
Pre-qualify & check your credit rating:
Being a prepared buyer can save you a lot of time and hassle when you decide to purchase a home. Putting an offer on a home before you have prepared for it may very well end in disaster.
The first step in purchasing a home is to find a good mortgage lender that you feel comfortable with. I work with several top-notch lenders, and can help you find one that suits your needs. The lender will be able to pre-qualify you and will tell you what price home you can purchase. The lender can also tell you what debts you should pay off before buying a home.
It’s a good idea to speak to a lender well before you begin the home buying process so you can have time to prepare. Click Here for a mortgage calculator, or contact me for more information on how much home you can afford.
Early into the home buying process, you will want to check your credit rating to make sure it is clean, and doesn’t have any glitches of which you may be unaware. I once had a case where reports showed the buyer owing child support, but it ended up being another person by the same name. Another problem can be judgments that have been paid off, but have not yet been cleared from your credit report. If you clear any disputed items ahead of time through your local credit bureau, it will make the loan approval process go much quicker.
Be careful of applying for any credit cards or consumer loans. Every time you apply for a Sears card, a gas card, a computer loan etc., they run a check on your credit. Too many credit checks in a short period of time can raise a red flag to the mortgage lender. Also, don’t make any major purchases before the closing of your new home. Purchasing a new dining room set on your credit card to fit in your new home or taking out a car loan can throw off your debt ratio, and you may not be able to qualify for the loan.
Having a clear credit rating and being pre-qualified will make you a stronger buyer, and sellers will take your offer more seriously.
Determine your needs:
Many people decide to buy a home without knowing what they want. This will frustrate you, since you have not given your real estate agent enough parameters and they are showing you every home in town.
What you should do before you meet with your agent is to determine exactly what are your needs and what are your wants. If you have 3 children, you will probably not be able to live in a 2-bedroom house. Do you have pets that need yard space? Do you want to purchase a condominium or a house? Do you need a garage? How much space do you need?
Write down a list of all your needs. Then make a list of things that you want, but are not necessary (maybe you want a fireplace or a walk-in closet). Finally, make a list of what you absolutely DO NOT want (if you have knee problems, you may not want a home with stairs). Once you have your list of wants and needs, we can tailor your home search to fit those parameters. My Home Wish List Worksheet can help you through this process.
Once you have determined your price range and your needs, I will help you find the right home. I am very familiar with Anchorage neighborhoods and housing… I have lived here all my life. I also have an extensive real estate background and can assist you with any problems that may arise during the contract negotiations, the home inspections, title reports, loan origination, and closing. Call me for more information about the home buying process. If you are moving to Alaska, you may request my FREE relocation package here.